MSM - Massmart Holdings Limited - Trading Statement for the six months to 25
December 2011
Massmart Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration Number: 1940/014066/06)
Share code: MSM
ISIN: ZAE000152617
("Massmart" or "the Company")
Trading Statement for the six months to 25 December 2011
Shareholders are advised that Massmart expects to release reviewed earnings,
headline earnings, earnings per share (Basic EPS) and headline earnings per
share (HEPS) for the six months to 25 December 2011 within the ranges shown
in the table below (all these figures include net foreign exchange
translation amounts in both periods).
Headline earnings and HEPS excluding the net foreign exchange translation
amounts are also shown in the table.
                        Expected        Actual        Expected
                        Ranges          December 2010 % Change
                        December 2011
Rm's
Earnings                 864.0 - 923.1   738.5         17.0 - 25.0
Headline earnings        865.2 - 924.4   739.5         17.0 - 25.0
Headline earnings        804.7 - 868.4   796.7         1.0 - 9.0
excluding forex
Cents
Basic EPS                401.8 - 431.1   365.3         10.0 - 18.0
HEPS                     402.4 - 431.6   365.8         10.0 - 18.0
HEPS excluding forex     374.4 - 405.9   394.1         (5.0) - 3.0
The reason for the lower growth rates for the per share figures is due to the
higher number of issued shares following the implementation of the Walmart
transaction in June 2011.
The Group's results should be interpreted in the context of the Massmart
CEO's statement at the 23 November 2011 Massmart AGM that: "we expect the
Group's sales performance to continue to be strong, supported by our
investments in price, growth, capacity and integration.  These investments
are however, expected to put downward pressure on operating profit, before
foreign exchange translation, in the short-term, particularly for the half-
year to December 2011."
The above information has not been reviewed or reported on by the Company's
auditors.
Massmart's reviewed interim financial results for the six months to 25
December 2011 will be released on 22 February 2012.
Johannesburg
31 January 2012
Sponsor: Deutsche Securities (SA) (Proprietary) Ltd
Date: 31/01/2012 09:03:31 Produced by the JSE SENS Department.
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